Tex.
Spec. Dist. Local Laws Code Section 8282.253
Authority to Issue Bonds for Improvement Projects or Services
(a)
To pay all or part of the costs of an improvement project or service under Section 8282.154 (Improvement Projects and Services), the board may issue bonds in one or more series payable from and secured by ad valorem taxes, assessments, impact fees, revenues, payments pursuant to an agreement made under Section 311.010 (Powers and Duties of Board of Directors)(b), Tax Code, dedicating revenue from a tax increment fund, grants, gifts, contracts, or leases or any combination of those sources of money.(b)
Bonds issued under this section may be liens on all or part of the revenue derived from improvements authorized under Section 8282.154 (Improvement Projects and Services), including installment payments of special assessments or from any other source pledged to their payment.(c)
Sections 375.202-375.206, Local Government Code, apply to bonds issued under this section.(d)
Sections 49.181 (Authority of Commission over Issuance of District Bonds) and 49.182 (Commission Supervision of Projects and Improvements), Water Code, do not apply to:(1)
bonds issued by the district and payable from:(A)
assessments imposed by the district under Section 8282.154 (Improvement Projects and Services) that are paid in full on the first conveyance of land after imposition of the assessment; or(B)
payments pursuant to an agreement made under Section 311.010 (Powers and Duties of Board of Directors)(b), Tax Code, dedicating revenue from a tax increment fund; or(2)
a project that is financed by an issuance of bonds described by Subdivision (1).
Source:
Section 8282.253 — Authority to Issue Bonds for Improvement Projects or Services, https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8282.htm#8282.253 (accessed Apr. 20, 2024).
